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Author Topic: It was bound to happen.  (Read 2285 times)

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Falstaff

It was bound to happen.
« on: April 25, 2007 »
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  • gigi

    Re: It was bound to happen.
    « Reply #1 on: April 25, 2007 »
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  • Yes and quite scary for those of us who remember the negatve equity etc of the 80s!!!

    Offline losgiganteskid

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    Re: It was bound to happen.
    « Reply #2 on: April 25, 2007 »
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  • I read a similar story in another newspaper - so it must be true !!

    I suppose for those who have recently bought property in Spain they may be concern that the value of their purchase may fall - indeed - there was a programme on British TV last night sighting the dilema of some property owners in Spain who have been unable to sell due to market conditions (that have been in force for quite some time).

    For those of us that bought some time ago, any price "correction" may not be so painful as our properties have enjoyed substantial increases over the years (20 in my case).  As I bought my apartment for holiday use only, the fact it rose in price was a bonus - I could have sold and made some dosh I guess but its only when you sell that you either make a monetary loss or gain.  If property prices fell in Spain by 50% I would still come away from a sale with a smile on my face.

    There are many apartments for sale in and around LG at present- the recent press will not assist with any new sales.  I have no intention of selling in the foreseeable future irrespective of what happens to the value of properties in Spain.  I might consider selling if the sun didn't shine any more in LG !!
    I wanted to be the Cincinnati Kid - but couldn't spell it